Wednesday, November 7, 2012

"Obamacare Cost Me My Job"

An EPJ reader emails:

I work for the oldest and largest health insurer in the state of Ohio in the underwriting department. At 9 a.m.this morning, my department (about 50) were called into a meeting in the executive boardroom. We were informed that due to a provision in the healthcare 'reform' effective 2014 called guarantee issue, our services would no longer be needed, and we were offered severance So Obama got to keep his job, and we lost ours. It is maddening that some tyrant 400 miles away can have such a ruinous effect on peoples lives.

+1 on Robert's reply. Insurance companies evaluate risk and charge premium to hedge against it. To get rid of the underwriting department means diminished risk calculation, which is what Obamacare requires, removal of risk calculation. It takes insurance and turns it into a payment plan because it is no longer acting as a hedge against possible loss but rather as a payment plan -- a payment plan that will fail in short order.

I am guessing "Anonymous" has not held a job with the same company for over 25 years....Sure, one day we will "get over it" but I only hope you never have to go through something like this. But then again, maybe you need too so you can experience this feeling and maybe not be such an insensitive jerk.

Colonoscopy is about $10.000. If you have ObamaCare Silver Plan, you have to pay about $2000 premium for family of 4. But, Silver plan covers 70% only. It means you have to pay $3000 for Colonoscopy. ACA. :)))

Sorry to hear that. This is actually extremely surprising to me since I would think Underwriters would plan an even more important role in "Obamacare" era since they would be responsible for ensuring the Insurance company is compliant with the Obamacare provisions (such as guaranteed issue) and managing to the MLR provisions. I'm sure with your underwriting background you'll have no problem finding a job elsewhere. Best of Luck.

Thats garbage! My kids and I can now have health insurance. I make min wages and now I will get a tax credit covering it all!! I have 5 kids and this is good news. If you make a good salery than you should help the rest of us.

What gets called health insurance is really just a savings plan where they comingle everyone's cash and let you withdraw more than you deposited. Of course if that happens more than once, they make you deposit more.

At the risk of doing Snopes' job for them, this sounds like a hoax email. The "oldest and largest health insurer in the state of Ohio" is Medical Mutual. They have announced no layoffs and maintain a full underwriting department.

Not the tyrant in Washington, but the tyrant "democracy" which is the tyranny of the majority of voters, 50% or more of whom want their handouts. Money must be "saved" for that and that only. Constitutional Republic, RIP.

I am an internist in NYC area and after being stiffed by insurance companies for years, have converted to the concierge model, where, for an annual fee of $1000-1500/yr, a limited number of patients have access to me 24 hr/day including house calls, long exams where I can answer all their questions, co-ordinate their specialist visits, etc. Anyone who was watching saw the insurance companies stocks soaring on Obamacare's win earlier this year, meaning their profits will soar and the public again pays the bill. If we keep voting in feeble-minded, corrupt politicians (campaign contributions), you cannot expect anything else.

I last worked for my company, in 2007, but had been allowed to keep my "employed" status with my company. This arrangement allowed me to keep my clearances and healthcare. From the company's standpoint, it meant that I was available "on call" for the occasional phone consult and if necessary to be brought back in to help with emergencies without waiting six months to be re-cleared. It was a win-win-win situation for me, my company, and our Government customer. (Sorry to be so vague, but that is the nature of my business.)

My manager contacted me the day after the election to tell me the company had no choice but to terminate me and all other unscheduled employees. The company will be issuing a letter to effected employees on January 1, 2013, but he wanted to give me a "heads-up" so I could take action now. All the remaining full-time employees will be losing their current healthcare and be put into the employee contribution pools stipulated under the "(non-)Affordable Care act". Over lunch my manager told me that he would have to pay $10,000 over our former insurance because of the size of his family and he was not sure he could afford to do so. Losing my healthcare I am not sure what I will do to cover my cardiology, orthopedic, and other current expenses. At least I am now free to relocate to a "no-income tax" State.